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TOKYO, July 6, 2023 /PRNewswire/ -- Tokio Marine Holdings, Inc. ("Tokio Marine") introduced a group-wide market intelligence platform in June 2023 to support operations related to collaboration with external companies. The system allows the group to share information, including the status of search and scouting for potential future business partners, as well as meeting minutes. As open innovation is accelerated, the platform fosters efficiency, streamlining the search process for startup companies.
In today's rapidly evolving landscape, the Insurtech sector, which combines insurance and technology, is experiencing remarkable growth globally. Tokio Marine actively pursues collaborations with Insurtech companies, recognizing their immense potential to drive the development of new products and innovation within its insurance operations.
Previously, the absence of an information sharing system meant that Tokio Marine's group companies worldwide conducted searches for potential business partners independently. This decentralized approach resulted in scenarios where multiple group companies unknowingly engaged with the same startup companies. To address this issue, the platform was co-developed with Tällt Ventures, building upon its Sønr Platform, a company database with over 2 million companies with cutting-edge technologies highly compatible with the insurance industry. Group companies can now seamlessly share information on company searches on the platform.
Besides information sharing on the platform, the platform allows information management through assigning attributes information tags to each external company. Each user can also customize the information display at the home screen to facilitate effective use of the system.
Tokio Marine Holdings commented, "The introduction of this system will allow us to simultaneously facilitate corporate search and horizontal development of collaboration. By leveraging the expertise of our Global Digital Innovation Labs, we aim to accelerate open innovation throughout the group."
About Tokio Marine Group
Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide. The company has established "Global Digital Innovation Labs" in seven locations around the world, including Tokyo, Singapore, London, and New York, to gather information and seek collaboration in cutting-edge technology fields, which are instrumental in driving digital transformation (DX) in each country and region.
